Wintrust Receivables Finance recently finalized a $3 million accounts receivable line of credit for a third-party logistics firm based in the Southwest.
This company offers a comprehensive range of transportation solutions, spanning truckload, LTL, intermodal, and expedited services, catering primarily to middle-market enterprises across the United States. Despite facing challenges in the domestic freight market, the company managed to achieve year-over-year revenue growth while sustaining profitability throughout 2023. As the domestic freight market gradually rebounds from a historically tough period, the company is setting its sights on further expansion in 2024.
Before transitioning to Wintrust Receivables Finance, the company had been operating under a factoring arrangement with higher capital costs to support its working capital requirements. Seeking a new financial partner capable of facilitating growth while minimizing capital expenses, the company found a fitting solution in Wintrust Receivables Finance. In addition to extending a new line of credit, the Wintrust Receivables Finance team is also offering a suite of treasury management products and services.
Jason LeuVoy, Wintrust Business Credit’s national head of originations, expressed admiration for the management team’s adept handling of the company amid challenging market conditions. He emphasized Wintrust Receivables Finance’s commitment to supporting the company’s growth trajectory by providing a flexible and robust working capital financing structure. With a proven track record of assisting logistics firms through various industry cycles, the WRF team views this transaction as a valuable addition to its portfolio of transportation and logistics clients.
